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The Qatar-listed Doha Bank, rated A (stable) by Fitch and Baa1 (stable) by Moody’s, tightened the price on its $500 million Reg S long five-year senior unsecured notes to 99.418%, with a coupon rate of 4.5% per annum, payable semi-annually.
The re-offer spread over benchmark was at 105 bps, with a re-offer yield of 4.621%. The initial price thoughts were at 140bps over US Treasuries.
The final orderbook was over $1.1 billion, excluding JLM interest.
Doha Finance Limited has been named as issuer, with Doha Bank listed at the guarantor.
The third largest conventional bank in Qatar by assets said the offering will come under its $3 billion Euro Medium Term Note Programme, with a settlement date of September 16.
The notes will be listed on the London Stock Exchange’s International Securities Market.
Crédit Agricole CIB, DBS Bank Ltd., Emirates NBD Capital, ING, KIS Asia, Mashreq, QNB Capital, RAKBANK, Santander and Standard Chartered Bank were Joint Lead Managers on the deal and Commercial Bank of Qatar acted as Co-Manager, and Bookrunners.
(Writing by Bindu Rai, editing by Seban Scaria)
